Friday Night Highlights Vol 11

Friday Night Highlights

Welcome to this weeks edition of the Friday Night Highlights, where I scour the personal finance blogging world to bring you interesting articles you may have missed.

Did you miss last week’s Friday Night Highlights? Not to worry, I’ve got your back. Click here to catch up. What to do with an orphaned 401(k). Pay extra on your mortgage then this happens. The ultimate zero-based budget guide. This and more on last week’s Friday Night Highlights.

Friday Night Highlights

This week we have three articles that have a common theme, your home.

  • Are you stressed out? It might be your debt. The Two Cup House tells us about their journey to become totally debt free with 13 tips on how you can accomplish this feat as well.
  • The Frugal Fellow features a guest post by Jake Jones, on 7 Reasons why you are probably not ready to buy a home.
  • The husband and wife duo, at Six Figures Under, walk us through the four reasons why they chose to pursue an impossible financial goal.

 

13 Tips for Living Totally Debt Free & Mortgage Free

Are you in debt, stressed out and just so over it? So was the Two Cup House, when they decided a lifestyle reboot was necessary to get them back on the right financial life. They went all-in on a financial makeover, selling their house and stuff. By reducing expenses and increasing income they were able to pay off $204,971.31 of debt.

Want to know how they accomplished such a feat? Read their post, as they share 13 easy to use tips to help you become debt free. My personal favorite is tip #5 and #11. Read the article →

7 Reasons We Weren’t Prepared To Buy Our Home

7 Reasons We Weren’t Prepared to Buy Our Home

Do you ever wish you could have a do-over in life? Buying our current home would be one of those times. I would have loved to read an article like this before signing at escrow. Unfortunately, no one in the purchase process is going to tell you that you are making a mistake. They want your money.

We didn’t account for ever-increasing property taxes and insurance rates.  This, among other reasons, make our home purchase our worst financial decision. Don’t be like me.

This post featured by The Frugal Fellow and written by Jake Jones details a 7 step checklist to complete before buying a home. If you follow this simple 7 step guide you will be well on your way to making your home purchase your best financial decision, not your worst. Read the article →

Our Next BIG Financial Goal– Why We’re Paying Off Our Mortgage in 5 Years

Looking at our budget, there is no way that we can pay off our mortgage in 5 years (we live in California), but that's the new financial goal we're setting. Paying off six figures of student loan debt also looked equally ridiculous when we set out on that goal too, but we did it. Here's why we're doing it anyway!

It’s been said that after paying off debt, some people lose the motivation to save money. I had a similar experience a couple of years ago when we paid off my wife’s car brand new car in 2 years.

I was so focused on paying off the car, that when we finally reached that goal, I lost motivation. It took me a couple months to refocus my energy towards maxing out our IRA’s. The joy of saving was not equal to the excitement of debt paydown.

The husband and wife couple at Six Figures Under, share their story of waning motivation after they paid off a mountain of student loan debt. A quick pivot and new strategy reignited their excitement.

They recently announced a new goal of paying off their $363,000 mortgage in five years. Crazy right! Admittedly this is their stretch goal, but you can only achieve crazy success by setting crazy goals.

So head on over to Six Figures Under to read their story and follow their journey. Read the article →

Thank you for reading the Friday Night Highlights. Please sign up in the form above to get next Tuesday’s article, where I will be looking forward to my 2019 financial goals. I’m going big for 2019. You won’t want to miss it.  Have a great weekend!

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